Let’s head to a ‘Spice’y Hot Spot
After selling off his telecom business to Idea and speculations rife on the sale of his mobile business to Sony Ericsson, B. K. Modi is still betting big on mobile retail. surbhi chawla analyses what makes this business worth keeping for the Modi camp?
It couldn’t have been easy for Bhupendra Kumar Modi, the man who brought mobile phones to our country, to exit the telecom sphere, and that too at a time when the sector is growing exponentially.
But even after selling Spice Communications to Idea Cellular, he stands tall and states unabashedly that, “Our Spice brand and the mobile retail chain – Hot Spot would remain with us.” In fact, B. K. Modi is so bullish about the mobile retail venture that big plans are being charted out and an IPO by the end of this year is also on the cards.
With India becoming the second largest telecom market of the world with about 212 million GSM connections (for June 2008 by COAI), and still growing steadily at 18% per annum, there seems to be plenty of scope for the handset market too. The market is pegged at Rs.750-Rs.1000 billion and is growing at a whopping CAGR of 60%. Little wonder that players like The Mobile Store (promoted by Essar & Virgin) Motostore (promoted by Motorola), mbazaar (promoted by Future Group), RPG Cellcom and Subhiksha Mobile have already joined the mobile retail bandwagon....Continue
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
Read also :-
It couldn’t have been easy for Bhupendra Kumar Modi, the man who brought mobile phones to our country, to exit the telecom sphere, and that too at a time when the sector is growing exponentially.
But even after selling Spice Communications to Idea Cellular, he stands tall and states unabashedly that, “Our Spice brand and the mobile retail chain – Hot Spot would remain with us.” In fact, B. K. Modi is so bullish about the mobile retail venture that big plans are being charted out and an IPO by the end of this year is also on the cards.With India becoming the second largest telecom market of the world with about 212 million GSM connections (for June 2008 by COAI), and still growing steadily at 18% per annum, there seems to be plenty of scope for the handset market too. The market is pegged at Rs.750-Rs.1000 billion and is growing at a whopping CAGR of 60%. Little wonder that players like The Mobile Store (promoted by Essar & Virgin) Motostore (promoted by Motorola), mbazaar (promoted by Future Group), RPG Cellcom and Subhiksha Mobile have already joined the mobile retail bandwagon....Continue
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
Read also :-
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